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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Investment

In 2013 the Oil Fund of Azerbaijan allocated AZN 372.6 million for the construction of “STAR” Oil Refinery Complex

Posted on 29 January 2014

In 2013 the State Oil Fund of Azerbaijan (SOFAZ) allocated 3.02% of its expenditures for the construction of “STAR” Oil Refinery Complex in Turkey. According to the Fund, its allocations for this complex constructed by the SOCAR (the State Oil Company of Azerbaijan) made up AZN 372.6 million last year.
Budget revenues of the Oil Fund in 2013 reached AZN 13,600.5 million, while budget expenditures constituted AZN 12,302.7 million. As a result, the SOFAZ budget was executed with the surplus of AZN 1,297.8 million Over the last year the assets of the Oil Fund grew from $34129.4 million up to $35877.5 million………………………………………..Full Article: Source


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